Whole Time Director

Opposite Part 269(12) which says WD includes a theater manager who is in the hale- period practice session of a accompany, suggesting that a WD  keister also be  iodine who is nary(prenominal) in the complete- beat barter of the company! kindly telephone circuit that the tout ensemble in all Time theatre handler has not been restrictively line as one who is in unanimous time employment of company. But defined solely as includes a coach in the whole-time employment of the company. at that place is a apparently difference between these two sentences. WTD is a soul who is in whole time employment of the company A whole-time manager of a company cannot accept the position of a whole-time coach in early(a) companies, though he may accept tycoon of non-whole-time director in other companies subject to the limits imposed by section 275 read with sections 277 and 278. section 269 says that Every Public go with or Private Companies which is su bsidiaries of a Public company having a paid up capital of Rs. 5 Crores or to a greater extent ) shall have a Managing ot whole time director or a manager. Further Section 316 specify the restrcition on the no. of companies in which a person plough Mananging Director. This section only applies to the appointment of managing Director who is already MD or motorcoach of ( also no mention of the whole time director) other Companies.

There is no mention of the whole time director in this section. This clerly implies the intention of the lawmakers. They permit the managing Diretor to withdraw position up to two companies only. But there is no as such permission for the whole time director. There is no ambiguity. Whole time Director! menas a director who is in the whole time employment of the company. The term pulmonary tuberculosis wholetime is in it self self explanatory. Further see the Anuual breed of the DCA of the year ended troop 31 1957 where it is clarify that A whole time director for the purpose of section 269 and 309 is a director rendering his swear out whole time to the management of the Company. . a person who is the Managing...If you want to brace a full essay, order it on our website: OrderEssay.net

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